Kurma Partners, an asset management firm dedicated to enhancing human health, announced the successful first closing of its latest investment fund, Biofund IV, having raised EUR 140 million towards a total target of EUR 250 million. This fund is the largest venture capital fund initiated by Kurma to date, and it aims to make between 16 to 20 new investments in innovative therapeutics.

Strategic Focus on Innovation and Growth

Biofund IV will adhere to the investment strategy established by its predecessors, focusing on both the creation of new companies and investing in established venture-stage firms. Kurma Partners remains committed to a thematically agnostic approach, seeking to harness innovative advancements across various sectors. This strategy is crucial for identifying and fostering future trends in the biotechnology industry.

Co-founder and Managing Director of Kurma Partners, Thierry Laugel, emphasized the importance of collaboration in their mission: “Access to exceptional science and the best industry capabilities is at the heart of what we do. Bridging academia, industry, and fellow investors, we work to positively impact Europe’s health innovation ecosystem and human health on a global scale.”

Initial Investments and Track Record

Biofund IV has already made three investments in promising companies: SciRhom, which specializes in autoimmune diseases; Memo Therapeutics, inspired by natural immunity; and Avidicure, focused on cancer immunotherapeutics. These investments highlight Kurma's commitment to fostering groundbreaking science and advancing human health.

The new fund builds on the successes of Biofund III, which produced significant exits such as the acquisition of Amolyt Pharma by AstraZeneca, Emergence Therapeutics by Eli Lilly, and Corlieve Therapeutics by UniQure. Such achievements demonstrate Kurma's effective strategy in creating value through active engagement with its portfolio companies.

Support from Cornerstone Investors

Biofund IV has attracted a diverse group of cornerstone investors, including Eurazeo, returning investor Bpifrance, and CSL, a pharmaceutical industry investor. Their involvement is a testament to Kurma's strong track record and its ability to transform scientific innovation into commercially viable products.

Olivier Millet, Managing Partner at Eurazeo, remarked on Kurma’s accomplishments: “With its recent portfolio company trade sales, Kurma Partners has once again demonstrated its expertise in transforming science into marketable products. Eurazeo’s participation in this new fund demonstrates our confidence in the Kurma team.”

Dr. Andrew Nash, Chief Scientific Officer at CSL, praised the European biotech ecosystem, stating, “We are delighted to have found in Kurma Partners an exciting way to continue building relationships in Europe and beyond, investing in a team that has a proven track record of successfully converting leading European science into companies transforming ideas into groundbreaking therapies to address unmet medical needs for patients.”

Commitment to Healthcare Innovation

Kurma Partners is committed to bridging the gap between scientific research and commercial success. The firm’s collaborative approach emphasizes engagement with academic scientists and industry professionals to create synergies that facilitate the growth of its portfolio companies. By leveraging its various investment funds, Kurma aims to support its companies through all stages of development.

Rémi Droller, Managing Director of Kurma Partners, expressed optimism about the fund’s potential: “We welcome the continued support of returning cornerstone investors, Eurazeo and Bpifrance, together with our new cornerstone pharmaceutical industry investor CSL. We are excited with the launch of Biofund IV and confident that we will continue to generate positive returns for investors and make a real impact for human health.”

As Kurma Partners embarks on this new venture with Biofund IV, its focus on innovative therapeutics and commitment to collaboration positions it as a significant player in the biotechnology investment landscape. With the backing of esteemed investors and a proven track record of success, Kurma is poised to make meaningful contributions to the health innovation ecosystem in Europe and beyond. As the fund progresses, it will undoubtedly play a crucial role in transforming cutting-edge scientific advancements into impactful health solutions.